UPDATED ON: Tuesday, February 07, 2012
The Economical Insurance Group:
W. David Wilson, B.Comm., MBA,
From The Globe and Mail
Gerald Hooper, Chairman of The Economical Insurance Group, is pleased to welcome W. David Wilson to the Board of Directors.
Mr. Wilson brings additional strength to the Board as The Economical Insurance Group prepares to be the first Canadian property and casualty insurance company to demutualize.
Chair of the Ontario Securities Commission from 2005 to 2010, Mr. Wilson brings to Economical a wealth of capital markets experience after a 35-year career in Canadaís securities industry. As Vice-Chair of Scotiabank and Chair and CEO of Scotia Capital, he was responsible for overseeing Scotiabankís global wholesale banking activities, which include global trading, investment banking and corporate banking.
Economical will leverage Mr. Wilsonís depth and expertise through his membership on the Boardís Investment and Risk Review Committees, as well as the Special Committee responsible for guiding the demutualization process.
The Economical Insurance Group is one of the largest home, auto and commercial insurers in Canada, with $1.7 billion in premiums and $4.6 billion in assets. It comprises The Economical Mutual Insurance Company, including Western General; Federation Insurance Company of Canada; The Missisquoi Insurance Company; Perth Insurance Company; Waterloo Insurance Company; and Westmount Financial, including Family Insurance Solutions Inc.
Based in Waterloo, this Canadian-owned and operated company services the insurance needs of more than one million customers through 19 branches and service offices across the country.